D1 Capital Partners is short Adidas, placing a 'rare' bet worth about 216 million euros ($243 million) that its shares will go down.
D1 Capital Partners placed a"rare" short bet worth about €216 million against Adidas.D1 Capital, led by Daniel Sundheim, was also active in shorting UK companies last month.
D1 Capital Partners is betting against German athletic brand Adidas, placing a"rare" bet worth about €216 million that its shares will go down. The New York hedge fund, led by Daniel Sundheim, jumped on the scene with a huge debut only last year,It's an unusually big short, said research firm Breakout Point, which said in an email:"We have not seen anybody with a big short in Adidas since Ray Dalio's Bridgewater shorted them about a year ago."While the stock is near six-month highs, the shoe space is getting more crowded. Over the past few years, investorsD1 was also active in shorting UK companies last month.
D1's position in Pearson's makes up about 1.6% of the stock, the biggest short holding among all hedge funds in that name,"which is rare for us to see for a newcomer," Breakout Point said.Sundheim earned a reputation as"" while at the $32 billion fund Viking Global Investors. The Wall Street Journal in January named the fund as one to watch in 2019, saying at the time:"People who have invested in D1 say they are making a long-term, multiyear bet on Mr. Sundheim.
Unlike in the US, some European regulators require investors to disclose short positions when they exceed a certain percentage of the stock.
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